Sep 13, 2010 3:00pm PDT
's collapse and the ensuing crisis led to a new push to make banks safer. in the u.s. a sweeping financial reform bill signed into law in july imposed stricter capital requirements on banks, yet largely left u.s. regulators to determine those levels. now new international standards may be on the way. this weekend in basil, switzerland, central bankers from 27 countries including ben bernanke agreed to new rules that included substantially raising amount of capital that banks must hold in reserve. banks in the u.s. currently must hold about 2% of their assets in capital or equity to absorb losses in the event of runs or financial panics. under the so-called basil-3 agreement the new international standard would be 7% of assets. but banks would have until 2019 to implement it. the head of the european central bank said the move would help protect against another meltdown. >> what we have decided is commensurate to permit when we have all the standards in place to make the banking sector at a global level much more resilient. and i would say we think we are commensurate to the shocks that we
Sep 24, 2010 3:00pm PDT
, who covers capitol hill for "the new york times." thanks for being back with us. so what's this delay all about? >> well, the senate clearly doesn't want to get embroiled in this issue before the election. it's just too unpredictable and the story line for democrats is clean, as things stand now. they're making the case that republicans would block tax relief for the middle class to hold out for tax break force the wealthy. republicans, of course shall want to extend those tax cuts for everyone. and so it's easier in the view of democrats to push this until a lame duck session. the political situation will obviously be less intense then. but as you said, the house speaker today left open the possibility of forcing a vote. and that could get really interesting next week. >> woodruff: now why the different calculus in the senate and in the house. >> the calculus probably isn't different. the conventional wisdom still is that in the end the house will decide to go home and campaign without taking this vote. but there's no reason for speaker pelosi to relent right now when she thinks she'